Very interesting story on 60 minutes tonight on CBS, Dec 7, 2008.  Several high level executives from the Saudi corporations that have in their sights the continued consumption of fossil oil.  They want to see the price of oil at around $75, where today it is running around $40. The sentiment is that we could see it drop even more to give us gas around $1.50 per gallon or less.

The Saudi’s appear to be somewhat arrogant to think that the US will continue to be so dependent on their oil. We need to learn a very expensive lesson that dependency on foreign oil is a very bad thing for the US.

If do nothing to change this we will face a very grim fate.  Fossil fuels must be replaced with renewable energy sources such as solar, wind, hydro, nuclear, and other forms of energy.